Champions League costs put brake on Man United profit

(Reuters) - A return to the Champions League came at a price for Manchester United as a related increase in player wages crimped core quarterly earnings for the Premier League soccer club.

United, whose leading players include Paul Pogba and David de Gea, are currently second in the 20-team English Premier League and play Sevilla in the last 16 of the Champions League later this month.

“Our solid business model has allowed us to invest in the future of the club with the extension of Jose Mourinho’s contract as manager and the acquisition of Alexis Sanchez,” Executive Vice Chairman Ed Woodward said.

Manager Mourinho last month extended his contract until 2020, while Sanchez moved from Arsenal.

Woodward would not be drawn on the likely outcome of the new auction for domestic rights to broadcast Premier League matches, for which bids are due to be submitted on Friday.